Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1887-09-08
The Great Railroad ex-PreSident and
Financier May Once More
Dictate.
Purchase of Oregon TranScOntinental
Stock Gives Him Power in Trans
portation Circles.
Baltimore and Ohio Express Swallow
ed Up by the United States
Company.
Willard to the Front.

ances 1t would seem that Henry Wizards
star was again in the ascendant. For
several days past Wall street has been
gossiping about the coming election of
the Northern Pacific, over which there is
the usxal fight, but to-day the spectators
were surprised and startled to hear that
Henry Willard had bought for the German
syndicate, for which he is agent, &c.
100000 interest in the stocks and bonds
of the Oregon Railway and Navigation
company, which is the property of the
Oregon Transcontinental. All sorts of
rumors were circulated about the trans
action, and it was even stated that Mr..
Willard had obtained control of both the
Oregon Railway and Navigation company
and the Oregon Transcontinental roads.
No one knew exactly how to interpret the
move. Some said that it was a flank
movement of the Oregon Transconti-
mental people to outwit the Northern Pa
cific officials, while others claimed that
Elijah Smith had been caught mapping
and had been attacked from an unex-
pected quarter. The point of the whole
matter seems to be, however, that Mr..
Willard, for the foreign syndicate, headed
by the Deutsche bank, negotiated for the
purchase of three millions of the Oregon
navig atien bonds which they had been
unable to place satisfactorily and which
they held for advances, also million of
the guaranteed stock of the same COM
pany with an option of two millions
more. Thus the Oregon Transcontinental
| receives little more than
FIVE MILLIONS
in cash, of which part has already been
paid, gets rid of block of bonds for
which 1t had no present sale, and at the
same time parts with big block of
of Oregon navigation stock. 1T will be
enabled to make up largo amount OF its
bills payable, dispose of those obliga-
tions which fell due this year, and tide
itself over another period until it has
need of more ready cash.
THE DEAL is PECULIAR IN THIS
that it seems satisfactory to all parties
Of course tsuits the seller, for he found
purchaser without being compelled to
sacrifice anything. At the same time the
Northern Pacific people are perfectly will
ling to see Mr.. Willard come into power
again. They have no enmity against him
and would undoubtedly welcome him
back, backed as he is by powerful syn
dictate who have never lost faith in him
ing.
President Harris seems perfectly we'll
satisfied with the turn the matter has
taken, and it looks as if there would be
way out of a very tight hole for all par
ties. Of course Mr.. Willard returns to the
board of two companies of which he was
once President - that is, if he cares to =
and what would be more natural than
that he should take a place in the North
ern Pacific, of which he was once Presi-
dent, as the representative of the large
interest which he has acquired. That
is the way that it seems to run.
Elijah Smith could not elect his own
board, but by compromise he may get
Mr.. Willard back again with one or two
other people who would not be OBJ
nOxious to the rest of the board.
Then, too. Mr.. Willard would be in a po-
s1tion SO as to harmonic matters that all
might be satisfied and change brought
about that would benefit the interest of
all concerned. That is the conclusion
arrived at by some clear headed men on
the street, but it must be admitted that
no one seems to understand exactly the
significance of the move, if it has any
in connection with the Northern Pacific
annual election.
ELIJAH SMITHS FRIENDS DECLARE
that it was great move on his part. The
Oregon Navigation's debts were pressing
and unless they were paid he could devote
little attention to any other matters. He
had one million Of bonds in the safe,
and now that he has found q ready cash
purchaser, he is able to meet the com
panys obligations, thus giving him a
clear field. Mr.. Smith himself was lock
ed up in his Office all day but when seen
for moment, positively declined to
either confirm or deny the story.
A visit to Mr.. Wizards Office met with
no better success. The great fnancier
could not be seen at all, at least not to-
day. The Northern Pacific people, how
ever, seemed rather pleased over the
whole affair. They declare that the eff
feet of the transaction, if it really has
been made, will be favorable to them in
the annual election, and they have no
fear of the result.
President Harris declined to say any
thing definite about the alleged deal, but
when pressed for his opinion of its eff
feet on the relations of the Northern Pa
cifc and the Oregon Iranscontinental
people, said with smile:
Oregon Transcontinental people start
out as refermers they never succeed"
Then he added significantly: "They were
just now going to reform the Northern
Pacific"
There is disposition in some quar-
tiers tonight to deny the truth of the al
legged deal, but your press correspondent
was told to-day by one of the highest of
fcials in the old Willard properties that
it was certainly fact, and the story was
given out as official on Wall street.
This is Henry Wizards first big deal
since his return to this country, although
he had little interest in the Cincinnati.
Hamilton d Dayton matter. 1t is not IN
likely that his advent in the railroad
world will make matters hum in Wall
street for few VS..